InPhonic quarterly loss narrows slightly; shares rise

GabrielMadway

SAN FRANCISCO (MarketWatch) -- InPhonic Inc.
INPC, +1.12%
shares surged 22% to $10.99 in Tuesday morning trade after the online seller of wireless services and products late Monday reported a third-quarter net loss of $4.82 million, or 13 cents a share, vs. a net loss of $4.95 million, or 14 cents a share, in the year-ago period. InPhonic also said it has reached an agreement in principle with the District of Columbia Attorney General's Office to settle a lawsuit related to the company's use of mail-in rebates. Excluding the impact of the settlement and related expenses, the company's third-quarter loss would have been 3 cents a share. Revenue came in at $102.2 million, up from $92 million for the third quarter 2005. The company forecast fourth-quarter adjusted earnings before taxes of 29 cents to 34 cents a share on revenue if $115 million to $125 million. For 2006, InPhonic forecast adjusted earnings before taxes of 58 cents to 63 cents a share on revenue of $400 million to $410 million.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information.
All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.
Intraday data delayed at least 15 minutes or per exchange requirements.